Drudge Retort: The Other Side of the News
Monday, November 06, 2017

After annual average gas prices had been falling consistently for five years from a high of $3.62 in 2012 to a recent low of $2.14 in 2016, the price of gas has been increasing. While some of the increase is attributable to the refinery problems due to Hurricane Harvey in Houston, the price has actually been steadily increasing since November 2016.

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Regular gas prices in my local area were $1.90 per gallon in October 2016. They've been increasing since then and are now over $2.40 per gallon. Typically, gas prices decrease in the Fall or at least stabilize. However, that is not what has been happening.

I wonder what others have noticed in their area.

#1 | Posted by TrueBlue at 2017-11-06 04:33 AM | Reply

$2.40/gal. consider yourself lucky. We just had a 12 cent tax increase and the price jumped @ 18 cents. And we have refineries .

#2 | Posted by patron at 2017-11-06 09:03 AM | Reply

#somuchwinning.

#3 | Posted by 726 at 2017-11-06 12:22 PM | Reply

Also consider that the price of crude is about half of what it was in mid 2012.

#4 | Posted by lfthndthrds at 2017-11-06 01:25 PM | Reply

consider yourself lucky

#2 | POSTED BY PATRON AT

Yeah.

You are ssssooooo lucky.

You should be happy that oil companies are ******* your eyeballs out.

#5 | Posted by MrSilenceDogood at 2017-11-07 04:53 AM | Reply

Hmmm.. drive less... or drive more, and complain.. ---- these choices are hard.

#6 | Posted by sitzkrieg at 2017-11-07 08:04 AM | Reply

Really? You guys don't see the winning? It's big oil winning. Who'da thought... Oh Waaaait.

#7 | Posted by GalaxiePete at 2017-11-07 08:25 AM | Reply

Sitz I don't have a choice my job requires driving and in the winter even more.

This winter my cost will go up 10 bucks a week if gas doesn't drop soon and my prices are already on the high end so I can't go up more. Which means I just eat the 10.

#8 | Posted by TaoWarrior at 2017-11-07 08:39 AM | Reply

The Saudis and Russians need to drive up oil prices. Last month:

Saudi king's visit to Russia heralds shift in global power structures

But Saudi Arabia is keen that the visit also secures a more permanent Russian cooperation over oil prices after a January agreement between the world's two largest oil producers managed to stabilise oil prices.

Saudi Arabia wants to prolong the oil agreement, which curbed production and raised prices. Speaking in Moscow, the Saudi energy minister, Khalid Al-Falih, said the January agreement "had breathed life back into Opec" and made his country more optimistic about the future of oil. "The success of this collaboration is clear," he said. Russia is not a member of Opec, but badly needs oil prices to rise to rescue its ailing economy.

www.theguardian.com

#9 | Posted by Gal_Tuesday at 2017-11-07 09:40 AM | Reply

#9 | Posted by Gal_Tuesday

All the more reason to go green and pursue electric cars.

#10 | Posted by GalaxiePete at 2017-11-07 09:48 AM | Reply

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#10 | Posted by GalaxiePete How do you think they generate electricity? Burning coal mostly.

#11 | Posted by docnjo at 2017-11-07 10:39 AM | Reply

By burning natural gas, mostly.

Coal is #2

#12 | Posted by TrueBlue at 2017-11-07 01:24 PM | Reply

Oil and gas prices are currently 'priced' with backwardation. At least they were before the sauds decided to to fight one another.

#13 | Posted by DavetheWave at 2017-11-07 01:26 PM | Reply

Sorry guys but commodities are very subject to moods and emotion. Especially the perception of risk or the threat of a shortage.

#14 | Posted by docnjo at 2017-11-07 01:41 PM | Reply

#12 | Posted by TrueBlue, Wait for a couple of years. Especially in the north east.

#15 | Posted by docnjo at 2017-11-07 01:42 PM | Reply

Remember when oil prices were a direct result of the actions of a sitting president?

#16 | Posted by memyselfini at 2017-11-07 02:19 PM | Reply | Newsworthy 1

"#12 | Posted by TrueBlue, Wait for a couple of years. Especially in the north east.
#15 | Posted by docnjo at 2017-11-07 01:42 PM"

OK. We'll see how it turns out:

www3.weforum.org

#17 | Posted by TrueBlue at 2017-11-09 12:49 AM | Reply

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